OmniAb (NASDAQ:OABI) Announces Earnings Results, Beats Estimates By $0.01 EPS

OmniAb (NASDAQ:OABI) announced its earnings results on Tuesday. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01, Zacks reports. OmniAb had a negative return on equity of 20.97% and a negative net margin of 308.78%. The company had revenue of $10.80 million during the quarter, compared to analysts’ expectations of $10.13 million. During the same period last year, the business posted ($0.14) EPS.

OmniAb Price Performance

OABI stock opened at $2.54 on Thursday. The firm has a market capitalization of $358.69 million, a P/E ratio of -4.10 and a beta of -0.14. The business’s 50-day moving average is $3.39 and its two-hundred day moving average is $3.79. OmniAb has a 1 year low of $2.50 and a 1 year high of $5.72.

Insider Buying and Selling at OmniAb

In other OmniAb news, CEO Matthew W. Foehr sold 41,811 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $3.24, for a total value of $135,467.64. Following the sale, the chief executive officer now owns 3,749,639 shares of the company’s stock, valued at $12,148,830.36. This trade represents a 1.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kurt A. Gustafson sold 7,255 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $3.67, for a total value of $26,625.85. Following the sale, the chief financial officer now directly owns 206,211 shares in the company, valued at $756,794.37. This trade represents a 3.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 112,260 shares of company stock valued at $376,601 in the last quarter. Corporate insiders own 8.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and set a $11.00 target price on shares of OmniAb in a report on Wednesday.

About OmniAb

OmniAb, Inc, a biotechnology company, engages in the discovery and provision of therapeutic antibody discovery technologies in the United States. The company's technology platform creates and screens diverse antibody repertoires and identify optimal antibodies for partners' drug development efforts.